(Adds Ebitda, production details)
BUENOS AIRES May 9 Argentina's state-run oil
firm YPF SA posted first-quarter profit of 192 million
pesos ($12.47 million), down 78 percent from 855 million pesos a
year earlier, the company said on Tuesday.
Earnings before interest, taxes, depreciation and
amortization, a gauge of operating profit, rose 34.7 percent
from the previous year to 16.83 billion pesos, however.
YPF, which is seeking partners to develop some of the
world's largest shale reserves in Vaca Muerta, said total
petroleum production fell 1.5 percent from a year earlier to
573,500 barrels per day.
Crude oil production fell 6 percent while gas output rose
2.8 percent to 45.3 million cubic meters (1.6 billion cubic
feet) per day.
The company said investments in property, plants and
equipment fell 18.9 percent to 11.95 billion pesos from the
first quarter of 2016.
YPF said it has put 96 new wells in production in the first
quarter, including 14 in Vaca Muerta, and finalized 11
($1 = 15.395 pesos on March 31)
(Reporting by Caroline Stauffer and Walter Bianchi; Editing by
Lisa Shumaker and Matthew Lewis)